Discussions about deferring the Grande Prairie Storm’s loan payments until July 2026 are being sent to Grande Prairie city council.
On Tuesday, administration presented forgiveness or amendment options for the hockey association’s loan to the Financial and Administrative Services Committee, recommending they approve an interest-free deferral period of up to three years. If approved, the association would start making payments on their loan again in July 2026.
Financial Management Director Chelseas Nestibo presented the report, noting that during the Storm’s initial presentation, they indicated they were working through a multi-step plan to improve financial stability, but immediate significant cash demands are making it difficult to manage.
“In early July, our CFO, Miss [Danielle] Whiteway and myself met with representatives with the association to discuss options that may be considered and the impacts to both organizations,” Nestibo told committee members. “Our local economy has improved from the pandemic state and administration believes that a three-year deferral period would allow the association enough time to implement some of the steps in their financial plan and to hopefully be in a better position at the end of the deferral period.”
Councillor Wade Pilat made the motion to send the conversation to a council discussion, with Councillor Dylan Bressey speaking in support, saying it is a topic he believes should be debated.
“I don’t know if I am comfortable with the three-year length of this, so I don’t know where I’ll go when it comes to council.”
Councillor Gladys Blackmore also spoke in support of the motion, saying she believes this option will allow the Storm to regain solid footing while proving they are still an effective and important asset in the community.
The discussion about differing the Storm’s loan stems from their presentation to the Invest GP committee on June 20th, when they made a roughly $200,000 request, including forgiving the team’s loan. At the time of the request, $71,000 had been paid off.